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A32
business
Sunday Guardian www.guardian.co.tt July 21 , 2013
LOCAL MARKET
SUMMARY
Volumes traded on the First Tier
Market this week were down on last
week's volume by a minimal 0.95
per cent with a total of 2,862,932
shares crossing the floor compared
to 2,890,273 share traded in the
previous week.
The value of shares traded, how-
ever, increased 21.33 to
$33,692,669.34 from the prior
week's value of $27,769,193.28.
Trinidad Cement Limited (TCL)
was the volume leader, for the third
week in a row, with 55.12 per cent
of the market or 1,578,181 shares
traded.
Both the Composite Index and
Cross Listed Index closed the week
lower while the All Trinidad and
Tobago Index gained momentum.
The Composite slipped 0.02 per
cent or 0.22 points to close at
1,126.79, the All Trinidad and Tobago
Index advanced 0.06 per cent or
1.02 points to 1,828.29 and the Cross
Listed Index ended the week at
55.41, down 0.31 per cent or 0.17
points.
The top performer was TCL, up
4.55 per cent or $0.05 to $1.15 and
leading the declines was
GraceKennedy Limited (GKC), down
3.48 per cent or $0.13 to $3.61. The
advance to decline ratio ended the
week in a ratio of nine to four.
There was no activity on the Sec-
ond Tier Market this week. On the
TTD Mutual Fund Market, 126,265
CLICO Investment Fund (CIF)
shares traded valued at
$2,831,237.50. CIF's share price
slipped 2.44 per cent or $0.55 to
$21.95.
Jamaica
In Jamaica, the JSE Market Index
declined 393.71 points or 0.46 per
cent this week to close at 86,550.43.
Trading activity resulted in
11,037,631 shares traded valued at
J$99,342,759.71.
The volume leader this week was
Caribbean Cement Company Lim-
ited (CCC) with 39.82 per cent of
the market or 4,394,920 shares.
The major advance was CCC, up
19.05 per cent or J$0.16 to J$1 and
the major decline was Barita Invest-
ments Limited (BIL), down 8.37 per
cent or J$0.21 to J$2.30.
KEVON FELMINE
Eight employees at Hi-Lo Supermar-
ket s Gulf City branch were taken for
medical attention while others were
evacuated from the store as a result of
a fumes emanating from a cleaning
agent.
The store remained closed for most of
yesterday as employees refused to return
to work after two of their co-workers col-
lapsed as a result of the fumes.
According to employees, an external
company responsible for cleaning the
bakery trays may have forgotten to rinse
off the cleaning agent. When staff used
the trays to bake items around 7.15 am,
the chemical evaporated, causing gas to
spread throughout the store.
Employees became nauseous and light
headed, and it was only when customers
began to complain that management
ordered an evacuation
Employees who fell ill were taken to
the Gulf View Medical Centre and the
San Fernando General Hospital where
some were treated and discharged.
Candace Ali, group corporate commu-
nications officer at Neal and Massy, the
parent company of Hilo Supermarket,
said there was no contamination of bakery
products and all products exposed to the
affected equipment were properly disposed
of.She said the third party contractor
responsible for cleaning the pans has
already conducted a thorough and exten-
sive removal of the remnant cleaning
agent.
The Fire Services Division was also
present to advise the store's management
on proper practice for containing and
eliminating the fumes and have given
approval for the store to be reopened, Ali
said.
All requisite corrective action has been
completed and the store is expect to re-
open today as per usual hours of oper-
ation, Ali said.
"Hi-Lo will continue to make every
effort to provide a safe environment for
its employees and its customers at all its
branches nationwide," the release added.
Cleaning agent sickens
Hi-Lo Gulf City employees What if Detroit isn t a blip? What if, instead, the city s
decision to enter bankruptcy proceedings is a sign of
things to come?
Crazy talk? Maybe. But that was the prediction in a
recent book by Wall Street financial analyst Meredith Whit-
ney, best known for being one of the very few mainstream
analysts to foresee the 2008 banking meltdown.
Interestingly, she also predicted this week's Detroit bank-
ruptcy.
That may seem less impressive now that it has happened.
On the other hand, the screams of outrage from lenders
who are being offered 10 cents on the dollar for their billions
in bonds by Detroit show that it wasn't obvious to them.
"I wish there had been a lot more outrage over the past
10, 20 years," said Kevyn Orr, the bankruptcy expert charged
with cleaning up Detroit's accumulated financial mess, at
a news conference Friday.
The fact is, long after Detroit's decline had become obvi-
ous, the city's government kept borrowing and lenders kept
lending.---CBC
Detroit bankruptcy:
Is it a warning sign